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Cross-border yuan usage jumps 20% in Jan-Sept on capital market opening - central banker

Cross-border yuan usage jumps 20% in Jan-Sept on capital market opening - central banker
A China yuan note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration/Files -
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THOMAS WHITE(Reuters)
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SHANGHAI (Reuters) – Cross-border usage of China’s yuan currency exceeded 14 trillion yuan ($2 trillion) during the January-September period, up 20% from a year earlier, a central bank official said on Wednesday.

About 6 trillion yuan of cross-border yuan payment was for securities investment, thanks to China’s accelerated opening of its capital markets, Huo Yingli, director of macroprudential policy bureau at the People’s Bank of China told a conference in Shanghai.

She added that yuan-denominated assets remain attractive, forecasting continuous foreign money inflows.

(Reporting by Winni Zhou and Andrew Galbraith; Writing by Samuel Shen; Editing by Himani Sarkar)

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